Financial stress may impact upon mental health

Financial stress and its impact on mental health has seen a rise in absenteeism, poor work performance and a lowered concentration span at work.

This was the view of corporate healthcare consultancy Alexander Forbes Health as October, which is Mental Health Awareness Month, began.

Thirty-five percent of all temporary incapacity leave applications received at present are due to mental and behavioural issues, according said the consultancy in a statement.

Statistics from the World Federation for Mental Health show that, on average, 36 work days are lost per episode and that more than 10% of the employed populations have taken time off work for depression.

“Our data reveals a steady increase in the number of South African employees suffering from mental health problems over the past five years.

And when financial difficulties and mental health problems are combined, you create a spiralling vicious circle where one compounds the other,” said head of Alexander Forbes Health Management Solutions Myrna Sachs.

“When you have poor mental health, organising and managing financial issues becomes trickier. This in turn creates a sense of fear, anxiety and worry, once again affecting your overall mental health.”